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Lack Of Information From Involution Hampering OUR Assessment In Caricel Matter

The Office of Utilities Regulation (OUR) says the lack of adequate information on the South African entity that has reportedly acquired controlling stake in Caricel is preventing it from completing a fit and proper assessment as requested by the Technology Minister.

In response to queries from The Gleaner/Power 106 News Centre, the OUR this morning said despite repeated requests from the management of Caricel, via the Technology Ministry, for the additional information on Involution Limited, there has been no response.

The regulatory agency says elements of the additional information requested have been outstanding for the past three months.

On Monday, Technology Minister Dr Andrew Wheatley revealed that he had not approved the sale of Caricel's shares to Involution Limited because he is yet to receive the report on a fit and proper assessment of the entity by the OUR.

The OUR says it has informed the technology ministry of the issue in receiving adequate information to complete its assessment.

Read the full article online in The Gleaner